Why Sarepta Therapeutics Stock Is Rising Today
Shares of the orphan drug specialist Sarepta Therapeutics (NASDAQ: SRPT) rose by as much as 15.5% in after-hours trading yesterday on heavy volume. This double-digit rally was sparked by a far better-than-expected second-quarter earnings report that hit the wires after the closing bell.
Not surprisingly, the key item investors seemed to be zeroing in on is the exceptionally strong sales of the company's Duchenne muscular dystrophy (DMD) therapy, Exondys 51. Sarepta reported that the drug's sales came in at a healthy $35 million for the three-month period, clobbering consensus by a whopping 56%.
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Source: Fool.com